Private equity partnership buys green ferry pioneer Family-owned Norwegian company Det Stavangerske Dampskibsselskab (DSD) is sell its ferry and express boat company Norled to a private equity consortium. Norled has been a green ferry pioneer. It owns the world's
No surprises from IMO MEPC 74 session When IMO's Marine Environment Protection Committee (MEPC 74) met in London last week, protesters from Extinction Rebellion symbolically rearranged deck chairs outside IMO HQ while playing Titanic themed music. Apparently that did
Partnership aims to develop OSV operation "game changer" Kongsberg Maritime, ship operator DOF ASA and Norwegian research organizations SINTEF Ocean and NORCE have formed a partnership to reduce fuel consumption and greenhouse gas emissions for complex offshore operations, while streamlining
Incat gets order for world's largest aluminum hulled ship Australian shipbuilder Incat Tasmania Pty Ltd has secured a contract to build what it says will be the world's largest aluminum ship for longstanding customer Buquebus. According to Australian media reports, the
Chevron puts Nor-Shipping focus on IMO 2020 solutions Chevron Marine Lubricants will be using the Nor-Shipping event in Oslo, June 3-7, to present IMO 2020 solutions that include its new Taro Ultra range of global sulfur cap-ready cylinder oil lubricants,
LNG fueled RoPax features MAN propulsion package China's Jinling Shipyard has ordered four MAN 51/60DF engines for a 230 m RoPax it is building for German ferry operator TT-Line under a contract that contains an option for a second
Conrad christens fourth Young Brothers tug Conrad Shipyard recently christened the oceangoing tug Kapena Bob Purdy for Young Brothers Ltd., of Honolulu, Hawaii, a subsidiary of Foss Maritime Company. The ceremony was held at Conrad's Amelia shipyard in
German shipowners seek a 'vote for shipping' Germany goes to the polls this week along with every other country in the European Union and globalist, pro-EU parties...
Crude tanker rates poised to strengthen Crude throughput at refineries is expected to lift by an additional 1m barrels per day as middle distillates production increases...
IMO faces ticking clock on GHG emissions measures After drafting important procedures, the International Maritime Organization must agree on concrete emissions measures in April 2020
Teekay Offshore receives offer from Brookfield A committee of non-Brookfield affiliated Teekay Offshore directors will evaluate the offer
Pangaea to start quarterly payouts The US-listed operator will pay a quarterly dividend of $0.034 per share, or $0.14 annually
Braemar will return to black, pledges Kidwell 'The forward freight agreement market and the period market point to a lot of optimism that the market will improve...
Container shipping's debt dilemma exposed Carriers can no longer hide lease costs as operating expenses, leading to questions about the sustainability of their debt levels
Transpacific rates feel weight of tariffs US shippers are reportedly reluctant to commit to forward bookings with profit margins set to tighten
Hapag-Lloyd's complex conversion to LNG Converting an existing large containership to run on LNG is not a simple task, even if it is LNG-ready
Hafnia posts profit after BW merger In its first quarter as a merged firm, Hafnia grows fleet and sees revenues spike
Braemar suffers after technical services disposal Revenue increased 14% to £117.9m, compared with £103m in 2018, with the company highlighting a 25% increase in underlying operating...
How Trump is affecting transpacific trade America's newfound determination to trade on a level playing field has led to a reconfiguration of some marine trafic and...
Daily Briefing IMO to assess the future of open-loop scrubbers | Push for immediate fuel switch in the Arctic rejected | Appeals...
Court freezes Antong Holdings assets Antong has seen its financial results worsen amid the financial unrest, as well as recent market dismay
Yildirim blames failed LBCT bid on geopolitics Macquarie and Yilport offered virtually the same price for the Long Beach terminal concession, but Mr Yildirim believes China's Cosco...
Yilport close to sealing $500m Gulfport terminal deal Group president and chief executive Robert Yildirim regards Gulfport as strategially well-located for handling trades from South America as he...
Yildirim reaffirms commitment to CMA CGM Robert Yildirim's initial investment in CMA CGM in 2011 was only expected to last five years initially, but is now...
IMO agrees on energy efficiency targets for new ships MEPC 74 agrees dates and targets for third phase of EEDI, starting in 2022
IMO puts finishing touches on 2020 sulphur cap Regulators make crucial changes to the rules and agree on guidelines for ships and ports
Braemar Shipping Services shares jump following strong shipbroking performance Braemar Shipping Services stock jumped by over one tenth today, breaking above the £2.00 barrier for the first time since February. The run follows strong full-year results from its shipbroking and finance divisions and a stable dividend during a year which saw one-offs from the sale of a slice of its technical arm bring a bottom-line loss. Technical division sales hit Braemar result Braemar Sh
Clarksons bearish for shipping as US-China trade war escalates Clarksons has cut its tonne-mile growth forecast for this year and has reiterated that dry bulk will be the sector hardest hit by tit-for-tat trade tariff increases by the US and China. Aside from the so-called 'trade war' between the two superpowers, the risk of a global economic slowdown will also impact seaborne trade, Clarksons said in a new research report. ROUND 4 OF US-CHINA TRADE TARIFF
Frank del Rio interview: Norwegian goes American NCL expects to expand its fleet by more than 40% by 2027, and many of those vessels are bound for the US
Enesel doubles suezmax tanker order at Daehan Lemos family company triggers optional pair linked to last year's two-ship suezmax order as outfit continues large-scale tanker fleet-renewal programme
China Merchants eyes tanker business from Rongsheng Petrochemical Rongsheng Petrochemical forms strategic partnership with Chinese state conglomerate as the latter commissions a $25bn petrochemical complex that will receive equity investment from Saudi Aramco.
Brookfield moves to take Teekay Offshore private Brookfield Business Partners is looking to take Teekay Offshore private and is offering to buy up the company's remaining outstanding shares for $1.05 in order to do so. The Toronto-based private equity firm made the $43.68m offer Monday morning and it is subject to the approval of Teekay Offshore's directors. In a letter, Brookfield chief executive Cyrus Madon said the $1.05 price for the 41.6
Incat to build world's biggest aluminium ship worth $130m Australian shipbuilder Incat has clinched a new ro-pax order worth $130m. The 130-metre vessel for Uruguay's Buquebus will be the world's biggest aluminium ship, the yard told AAP. It will operate between Argentina and Uruguay. Incat founder and chairman Robert Clifford said his company will spend six months designing the vessel, with delivery expected in three years. It will likely be 13,000
UAE suezmax held for six months in Egypt The crew of a UAE-owned suezmax has appealed for help after spending six months under detention in Egypt. The 31 men on board the 163,000-dwt Sea Shark (built 1991) contacted Russian news agencies to highlight their plight. Pirates fire shots after boarding arrested ABC product tanker AIS data shows the vessel sailed from Kharg Island in Iran in October to Suez. There it awaited instructions f
Search ends for missing Maersk crewman A search for a missing Maersk Line crewman has ended without success. The Danish owner said it reported a seafarer overboard from its 2,902-teu Maersk Patras (built 1998) on Sunday in the Saint Lawrence River in Canada. The missing man is the second officer, a Sri Lankan national. The vessel was north-east of the junction with Saguenay River at the time. Several ships and aircraft joined in th
Dof to harness big data to reduce vessel emissions Dof Group is partnering with Kongsberg Maritime and research firms SINTEF Ocean and NORCE to use 'big data' to make its operations greener and more efficient. The partners plan to develop a "sophisticated" new decision support system (DSS) for operating Dof's offshore support vessels (OSVs), using 'internet of things' technologies. Owners reactivating North Sea OSVs IMO tightens efficiency rule
Klaveness Combination Carriers sets date for Oslo listing Klaveness Combination Carriers (KCC) has been approved by the Oslos Bors to list its securities on the Oslo Axess market within the next six weeks. KCC clears the way for share issue ahead of IPO The first day of listing should be no later than 5 July this year, according to a filing on Monday. KCC must satisfy Oslo Axess' listing requirements before its first day of listing, the filing said.
Six released in $181m Uljanik fraud probe Six suspects have been released from "investigative detention" in a EUR 162m ($181m) fraud probe involving troubled Croatian shipbuilder Uljanik Group. The county court in Rijeka made the order on Monday, the Hina news agency said. Court spokesman Zoran Srsen said that there were no longer grounds for detention because all the witnesses had been interviewed during the investigation. Uljanik Plo
Sovcomflot tipped for more Arctic LNG 2 newbuilds Russian state shipowner Sovcomflot has been linked to orders for four more LNG carriers for the Arctic LNG 2 project. Industry sources cited by the Sputnik news agency said gas producer Novatek could sign deals with the owner for ships at Zvezda Shipyard this summer. Sovcomflot signs for first Arctic LNG 2 carrier The companies already have a deal in place for the first vessel in a potential se
Hafnia Tankers books profit in first quarter since BW deal closed Hafnia Tankers has recorded a profitable start to 2019 in what was its first quarter following a merger with BW Tankers. Hafnia Tankers tipped for 'cracking deal' with Equinor for LR2 newbuilding brace Product tanker capital of the world shows clockwork growth Andreas Sohmen-Pao strikes again as BW Group takes control of Epic Gas The January deal created a product tanker power with a $2.2bn ow
Car carriers 'struggle' to recover from tough market The car carrier market faces uncertain times despite various positives including a shrinking orderbook. For many years, the sector was very stable and profitable, benefiting from long-term contracts, sometimes of up to 10 years. But trade wars, slowing economic growth and longer-term structural changes in the automotive industry have left the operators and tonnage providers with many challenges.
Rates must rise to sustain long-term investment, says Hoegh Autoliners' boss Myklebust Chief executive says car manufacturers have benefited from declining rates for many years
TGS and PGS to conduct first 3D seismic survey in Labrador Sea Norwegian owner PGS and charterer TGS are to conduct the first 3D seismic survey in the Labrador Sea in eastern Canada. The two companies will work on the Torngat 3D multi-client project, which will cover around 3,287 km2 of the area included in the Labrador South November 2021 bid round. PGS and TGS wins Canadian survey contract NYK enters geophysical survey sector This will be PGS and TGS' n
Joint War Committee extends risk area after attacks The London insurance market's Joint War Committee (JWC) has extended the high-risk area for shipping after the Fujairah tanker attacks. Iran's Revolutionary Guards 'highly likely' to have attacked ships in Fujairah The body said the list now includes Oman, the United Arab emirates and the Persian Gulf west of longitude 58°E. The committee also said claims from the attacks will be "significant".
Technomar Shipping linked to post-panamax boxship deal Greece's Technomar Shipping is said to have bought a post-panamax containership pair from clients of Germany's Zeaborn GmbH & Co. The vessels in question are the 7,849-teu sisterships ER Montecito and ER Santa Barbara (both built 2004). London-based brokers report them as sold to George Youroukos-led Technomar for $15.5m each. The price is said to involve a long-term time charter for the pair, w
Former Aurora shareholders to appeal after losing round with BW LPG A group of Aurora LPG shareholders are planning to appeal after losing a court fight over the takeover by larger rival BW LPG. The plaintiffs, including former Aurora chief executive Borge Johansen and chief financial officer Nikolai Jebsen, claim that BW LPG breached the mandatory offer rules and paid NOK 500m ($60m) too little when it took over the Oslo-based VLGC owner in 2016. They sued in a
Wreck of liner Lusitania gifted to Irish museum The wreck of the liner Lusitania, sunk by a German U-boat in 1915, has been donated to an Irish museum. The vessel was once the biggest passengership in the world until its tragic loss in World War I that killed 1,198 people. Divers recover Lusitania telegraph The wreck lies 17 kilometres (11 miles) off the Cork coast. The plan is to display artefacts from the former Cunard vessel at a redevel
Okeanis sees rising investor interest in tankers as part of energy upswing Investors are showing a strong interest in tanker stocks as part of a wider upturn in attention directed towards the energy sector, according to a leading shipowner. Alafouzos family backs fresh $15m Okeanis Eco Tankers private placement Alafouzos family hands Okeanis Eco Tankers options for fresh suezmaxes at Hyundai Heavy Industries Okeanis Eco Tankers has just raised $15m from its main share
Anchor-handler rates more than double in North Sea Anchor-handler spot rates have more than doubled in the North Sea as charterers booked a host of vessels for rig moves. Siem Offshore: term AHTS deals "non-existent" Anchor handlers step in as PSVs sell out in Norway Brokers reported Solstad Offshore's 338-bp Normand Prosper (built 2010) fixed at £65,000 ($83,000) per day with ROV by Shell UK for the Wilphoenix rig move over two weeks. Shell a
Knowing your fuels can save money and anguish Do your homework on the IMO 2020 options
IMO 2020: The tsunami that's heading your way The new sulphur regulations go beyond switching fuels. The changes could send prices crazy and end the whole post-war bunker market
IMO has "no appetite for speed limits" Leading shipowners association the ICS says the IMO is still on schedule to meet its carbon emissions targets despite claims from environmentalists that progress has stalled. Commenting after the conclusion of the Maritime Environment Protection Committee (MEPC) meeting, where carbon reduction strategies were discussed, International Chamber of Shipping (ICS) chief executive Guy Platten said: "I
Technical division sales hit Braemar result A one-off book loss from the sale of much of its technical operation pushed Braemar Shipping Services deeper into the red for the full year. The £21.3m ($27.12m) sum attributed to last week's deal with Aqualis came alongside a strong underlying performance from the London-listed group's shipbroking and financial divisions. New chairman Ronald Series told investors Braemar had achieved good progr
Greek vessel fined in Norway for breaching sulphur rules Norway has fined a Greek cruiseship for violating fuel sulphur limits in the fjords. The 46,000-gt Magellan (built 1985) will have to pay the Norwegian Maritime Authority (NMA) NOK 700,000 ($80,000). P&O master escapes jail but fined over fuel breach The vessel is owned by Global Cruise Lines (GCL), NMA said. Equasis shows Epic Cruise as the owner, with GCL as the manager. "Our documentation s
IMO tightens efficiency rules for gas carriers and boxships The International Maritime Organisation (IMO) is tightening energy efficiency rules for boxships and gas carriers. A draft of a new agreement drawn up last week shows that new containerships will now be required to be up to 50% more efficient by 2022, against the previous target of 30% by 2025, Reuters reported. New general cargoships, LPG and LNG carriers and hybrid diesel-electric cruiseships
Catholic shipping dioceses start stock sell-off Several Catholic dioceses in big shipping centres have pledged to divest shares in fossil-fuel related companies. The National Catholic Reporter said the announcement was made following a Vatican-sponsored conference on the challenges facing the oceans and coastal areas. Among the dioceses involved is Panama City, next to the Panama Canal and the first archdiocese in the Americas to divest. Tan
Evergreen suezmax smash case heads to supreme court Evergreen is fighting a liability ruling all the way to the UK's top court following a 2015 smash between a boxship and a suezmax off Jebel Ali. Quadrant Chambers, which will represent the Taiwanese owner, said permission to appeal to the Supreme Court has been granted. This is the first liability appeal to reach the highest court and could be the first shipping case to be heard there since the
Why this export compliance consultant is 'mad as hell' Commentary: Commerce and BIS put numerous American companies at risk of export control violations by fumbling enforcement date of Huawei additions to Entity List.
U.S.-China trade war takes toll on South Korea BlueWater Reporting looks at the headwinds South Korea's economy is facing from the ongoing trade war between China and the United States, its top two trade partners.
Official details CBP duty activities, modernization vision Brenda Smith, executive assistant commissioner for Customs and Border Protection's Office of Trade, said her agency will develop modernization projects that will result in pilots.
BRX Transportation to acquire Pioneer Railcorp
Executive Moves: GPA, USA Truck, Baltic Exchange
Hamburg Süd christens Polar Ecuador in Antwerp
Alabama woman sentenced for falsifying medical exams
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